Jaguar Land Rover Drivers Can Now Earn Crypto Rewards for Sharing Useful Data

Jaguar Land Rover Drivers Can Now Earn Crypto Rewards for Sharing Useful Data

UK-based automobile giant, Jaguar Land Rover (JLR) is planning
to offer cryptocurrency
as rewards in exchange of driving data to the owners of its vehicles, as reported
by CNBC on Monday. The plan which is currently in its testing phase includes
the installation of the internet of things (IoT) sensors and the use of IOTA’s
DLT titled “Tangle” and “smart wallet” technology in the vehicles to make the
whole idea work.

Partner

The IOTA
Foundation, a German NPO that has its own DLT which allows it to handle
crypto payments for other businesses and build their digital protocols, is
helping JLR in the endeavor.

The Idea Behind the Project

While the IoT sensors would gather data
such as weather, navigation, road conditions, and even accidents and transmit
it over Tangle to the concerned authorities, the smart wallet would store the
driver’s crypto earnings which in this case would be in the form of IOTA
tokens, each of which according to Reuters
is valued at 27 U.S. cents.

The multipurpose smart wallet will do much
more than just store crypto. It would also allow drivers to pay for everyday
items and services like coffee and vehicle charging. In case, the wallet runs
out of credit; it can also be easily recharged via traditional payment systems.

Details from the Testing Unit

As mentioned above, the plan is currently
being tested in Shannon, Ireland where the company has already equipped several
of their models, like the Range Rover Velar and Jaguar F-PACE with the tech.

Commenting on the matter JLR’s executive
director of product engineering, Nick Rogers said, “Our Shannon software
development center is advancing the use of cryptocurrency to make people’s
lives better, by allowing drivers to safely share data and make payments from
their vehicle.”
JLR hopes to use this
data to better the experience of its customers and this project, if
successfully executed, would mean a serious boost to the cryptocurrency
community in general.

Share this:

Related

Continue Reading

You may also like...

Related Topics:

I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.